Slides
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Investor Presentation
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. DISCLAIMER This presentation (“Presentation”) is for informational purposes only and shall not be reproduced or distributed in whole or in part without the express written consent of AvePoint, Inc. No Reliance No representations or warranties, express or implied, are given in, or in respect of, this Presentation. To the fullest extent permitted by law, under no circumstances will AvePoint, its subsidiaries, or any of their respective affiliates be responsible or liable for a direct, indirect, or consequential loss or loss of profit arising from the use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. In addition, this Presentation does not purport to be all-inclusive or to contain all of the information that may be required to make a full analysis of AvePoint. Viewers of this Presentation should each make their own evaluation of AvePoint and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. Forward-Looking Statements This Presentation contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and other federal securities laws including statements regarding the future performance of and market opportunities for AvePoint. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this Presentation, including but not limited to: changes in the competitive and regulated industries in which AvePoint operates, variations in operating performance across competitors, changes in laws and regulations affecting AvePoint’s business and changes in AvePoint’s ability to implement business plans, forecasts, and ability to identify and realize additional opportunities, and the risk of downturns in the market and the technology industry. Viewers of this Presentation should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of AvePoint’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Copies of these and other documents filed by AvePoint from time to time are available on the SEC's website, www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Viewers of this Presentation are cautioned not to put undue reliance on forward-looking statements, and AvePoint does not assume any obligation and does not intend to update or revise these forward-looking statements after the date of this release, whether as a result of new information, future events, or otherwise, except as required by law. AvePoint does not give any assurance that it will achieve its expectations. Use of Projections This Presentation contains projected financial information. Such projected financial information constitutes forward-looking information, and is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. The assumptions and estimates underling such financial forecast information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive, and other risks and uncertainties. See “Forward-Looking Statements” above. Actual results may differ materially from the results contemplated by the financial forecast information contained in this Presentation, and the inclusion of such information in this Presentation should not be regarded as a representation by any person that the results reflected in such forecasts will be achieved. Use of Data The data contained herein is derived from various internal and external sources. No representation is made as to the reasonableness of the assumptions made within or the accuracy or completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication as to future performance. AvePoint assumes no obligation to update the information in this presentation. Use of Non-GAAP Financial Metrics and Other Key Financial Metrics This Presentation includes certain non-GAAP financial measures (including on a forward-looking basis) such as non-GAAP operating income (loss) and non-GAAP operating margin. AvePoint defines non-GAAP operating income (loss) as GAAP operating income (loss) plus stock-based compensation and the amortization of acquired intangible assets. Non-GAAP operating margin is non-GAAP operating income (loss) divided by total revenue. These non-GAAP measures are an addition, and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with GAAP. Reconciliations of non-GAAP measures to their most directly comparable GAAP counterparts are included in the Appendix to this Presentation. AvePoint believes that these non-GAAP measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about AvePoint. AvePoint’s management uses forward looking non-GAAP measures to evaluate AvePoint’s projected financial and operating performance. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore AvePoint’s non-GAAP measures may not be directly comparable to similarly titled measures of other companies. In addition to the non-GAAP metric described above, AvePoint management uses the key financial metric annual recurring revenue ("ARR"). ARR is the annualized sum of contractually obligated Annual Contract Value (“ACV”) from SaaS, term license and support and maintenance revenues, from all active customers. Guidance for non-GAAP financial measures excludes, as applicable, share-based compensation expense and the amortization of intangible assets related to acquisitions. A reconciliation of the guidance for non-GAAP financial measures to the corresponding GAAP measures is not available on a forward-looking basis due to the uncertainty regarding, and the potential variability and significance of, the amounts of share-based compensation expense and amortization of intangible assets related to acquisitions that are excluded from the guidance, as well as changes in interest rates and foreign exchange rates, which impact other GAAP performance metrics. Accordingly, a reconciliation of the non-GAAP financial measures guidance to the corresponding GAAP measures for future periods is not available without unreasonable effort. No Solicitation, Offer, Recommendation, or Advice This Presentation shall not constitute nor be construed as an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful. Further Information Investors and security holders of AvePoint are urged to read AvePoint’s recent disclosure statements and other relevant documents that have been or will be filed with the SEC carefully and in their entirety when they become available because they will contain important information about AvePoint. Investors and security holders will be able to obtain free copies of such documents containing important information about AvePoint through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by AvePoint can be obtained free of charge by directing a written request to AvePoint Investor Relations at 901 East Byrd Street, Suite 900, Richmond, VA 23219 or by emailing IR@avepoint.com. 2
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. PREPARE SECURE OPTIMIZE Our Vision. To Take Organizations Beyond Secure Our Mission. To Enable Organizations to Collaborate with Confidence by Ensuring a Robust Data Foundation Transforming Data to be AI-Ready Our Vision and Mission 3
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Machine-generated Data Human-generated Data A Focus on Managing Human-Generated Data CRM Sales Excel Financials Client Portfolios Machine-generated Data Voice Transcripts Emails Client Transactions Notes and Text Documents Chats Manuals – HR, LCD Call Center Videos Surveys Human-generated Data 4
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. The Leading One-stop Solution for Data Management: Platform Approach in the Age of AI A Leading One-stop Solution for Data Management: Generative AI requires a robust data management strategy: Data Security Data Governance Data Protection 01 Resilience of Cybersecurity Posture Control of IT Environment Modernization of Workforce03 02 5
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Current Serviceable Market Long-term Addressable MarketMid-term Serviceable Market (2024-28E CAGR 6.4% to $24.4bn) (2024-28E CAGR 13.2% to $16.6bn) (2024-28E CAGR 17.4% to $99.0bn) $19.0bn $6.7bn Governance, Risk, and Compliance $12.3bn Data Replication and Protection $10.1bn $52.2bn $23.8bn Identity & Access Management $4.6bn Cloud Native Application Protection $23.7bn Security Analytics Data Integration and Intelligence + + $10.1bn (1) As of 2024; IDC, Semiannual Software Tracker, November 2024 Enormous Addressable Market 2024E $81.3 bn 2028E $140.0 bn (2024-28E CAGR 14.6%) 6
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Building Enterprise- Grade Software Direct Selling into Highly Regulated Industries Fought to Enter New Regions Subscription Model Transition Went Public with only $60mm Primary Capital and No Debt We Do the Hard Things First Putting the pieces in place to support durable, profitable growth at scale 7
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Rapidly Built a Diverse Customer Base… 17,085 21,214 25,178 2022 2023 2024 21% 2022-2024 CAGR T O T A L C U S T O M E R S 8
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. …Spanning Every Industry… 12% 13% 11% 10% 8% 6% 4% 6% 7% 3% 4% 4% 13% Professional & Admin Services Finance & Insurance Federal Government Manufacturing & Production State & Local Construction Healthcare Retail Information Technology Life Sciences & Pharmacy Energy & Utilities Education Other Chart reflects breakdown of total ARR as of December 31, 2024. 9
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. North America 44% of Total ARR 22% ARR CAGR EMEA 35% of Total ARR 23% ARR CAGR APAC 21% of Total ARR 26% ARR CAGR ARR contributions as of December 31, 2024. CAGR is for the 2022-2024 period. …Around the World 10
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. This Has Enabled Rapid Topline Growth… $214.7 $264.5 $327.0 23% 2022-2024 CAGR T O T A L A R R ($mm) 2022 2023 2024 11
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. (1.2%) 8.1% 14.4% N O N- G A A P O P E R A T I N G M A R G I N …While Improving Operating Efficiency +1,560 bps IMPROVEMENT SINCE 2022 2022 2023 2024 2022 was the first full year as a public company AvePoint defines non-GAAP operating income (loss) as GAAP operating income (loss) plus stock-based compensation and the amortization of acquired intangible assets. Non-GAAP operating margin is non-GAAP operating income (loss) divided by total revenue 12
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Challenges All Companies Currently Face Need for Automation Complex Regulatory Environment Increasing Ransomware Attacks Move to the Cloud Explosive Growth of Data 15
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Generative AI Amplifies These Challenges D ATA S E C U R I T Y D ATA G O V E R N A N C E B U S I N E S S P R O C E S S E S S C A L A B I L I T Y R I S K R E S P O N S E Traditional Approach Fragmented Across Systems Inconsistent and Poorly Regulated Manual Limited Slow Response to Data Breach Incidents Requirements in the Age of Generative AI Centralized Uniform Standard Automated Efficient and Flexible Proactive and Agile 16
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Business continuity depends on the ability to bring data resilience and data quality into a single, seamless experience Customer Needs Today PLATFORM-FIRST STRATEGY Maximize the interoperability of every solution ROBUST POLICIES Ensure that critical data is secured DATA SECURITY AND GOVERNANCE Secure and govern every workspace 17
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. How can we take organizations Beyond Secure and ensure a robust data foundation in the age of AI? 18
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. An all-in-one data management platform that seamlessly prepares, secures and optimizes human-generated data 19
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. The AvePoint Confidence Platform Resilience Suite DATA SECURITY & PROTECTION comply with regulations, preserve critical records, and ensure business continuity Modernization Suite EMPLOYEE PRODUCTIVITY transform legacy data and processes for modern SaaS platforms Control Suite DATA GOVERNANCE a ready-made framework for automated governance and policy enforcement to reduce security risk 20
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Company A Company I Company B Company H Company G Company F Companies Can Choose From a Number of Point Tools… WhatsApp Dropbox Slack Evernote Google Docs Data Protection Data GovernanceData Security Company A Company I Company B Company H Company G Company F Company M Company N Company J Company D Company L Company K Company C Company E 21
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. …but AvePoint Provides a One-Stop Solution Company A Company I Company B Company H Company G Company F Company A Company I Company B Company H Company G Company F BENEFITS TO CUSTOMERSADVANTAGES OF A ONE-STOP PLATFORM Rapid Innovation Customer Stickiness Comprehensive Support Deep Competitive Moat Efficient Cross-sell Opportunities Streamlined Workflow, Better Experience Cost Savings and Higher ROI Holistic Data Insights Data Protection Data GovernanceData Security 22
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Tangible Benefits of Platform Approach Lower Time to Value Immediate savings in data retention costs Enterprise Scalability 500+ petabytes managed customer data High ROI Substantial cost savings automating data governance efforts Improved Operational Efficiency Platform automatically performs backup & governance operations 23
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. # of Employees % of Total ARR Engagement Buyer 5,000+ 53% Primarily Direct CTO, CIO, CISO 500 – 5,000 28% Direct + Indirect CTO, CIO, CISO or Partners < 500 19% Indirect Partners Enterprise Mid-Market Small and Medium Business Enterprise Mid-Market Small and Medium Business Customer Segmentation 24 Total ARR as of December 31, 2024.
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Wins (Close) Pipeline Creation Awareness Demand Generation Customer/Partner Success & Expansion Welcome & Onboarding Customer/Partner Loyalty & Advocacy Wins (Close) Pipeline Creation Awareness Demand Generation Customer/Partner Success & Expansion Welcome & Onboarding Customer/Partner Loyalty & Advocacy Direct Sales Channel Sales Consultants, Resellers, MSPs MSPs, Distributors Systems Integrators, Consultants Enterprise (5,000+ employees) Mid-Market (500-5,000 employees) SMB (< 500 employees) Go-to-Market Motion Customer Segmentation Go-to-Market Motion 25
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Customer Buying Journey (Example) ~$1mm ARR ~$2.5mm ARR BUSINESS IMPACT VALUE CREATION Fortune 50 Consumer Goods Company 26
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Complex Data Ecosystem of Major Technology Providers Infrastructure Agnostic Data Management Data Resources Cybersecurity Concerns AvePoint Seamless End-User Experience Mission Critical for “Data-first” Enterprises Empower Data Management with Security Unified Data Platform Enable Collaboration Optimized Data Governance Empower Transformative Processes Protection and Rapid Recovery Multi-Ecosystem Opportunity 27
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28©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. AI The AI Opportunity for AvePoint 28
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Strategic Priorities Accelerate Customer Adoption and Retention Expand Platform Offerings Continued Scaling of Channel Ecosystem Broaden Global Presence Strategic Acquisitions and Investments 29
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. ($ in mm) The Path to $1 Billion of ARR $122 $327 2020 2024 2029 H O W W E G E T T H E R E Solutions Segments Geographies Cross-Selling Partners $1B 30
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Key Takeaways We are a true platform company, focused on profitable growth1 We sell to companies of all sizes, across all verticals, in all regions of the world3 We operate in an addressable market that is large and growing4 Customers rely on AvePoint to address a number of strategic use cases2 Generative AI will be a long-term growth catalyst for AvePoint5 31
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Financial Highlights
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Tremendous Growth Potential Multiple growth levers to capture new markets and build share in a large and growing TAM Diverse Customer Base Rapidly growing and underpenetrated customer base that spans industries, geographies and company sizes Strong Financial Performance Established track record of execution, highlighted by durable topline growth, improving profitability and strong cash flow generation 1 32 A Compelling Equity Story 33
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. • Total ARR grew 27% YoY to $367.6 million, both reported and when adjusted for FX • Net new ARR was a record $22.1 million, and grew 42% YoY • SaaS revenues grew 44% YoY, 40% on a constant currency basis • Total revenues grew 31% YoY, 27% on a constant currency basis • Dollar based gross retention rate was 89%, adjusted for FX • Dollar based net retention rate was a record 112%, adjusted for FX • Non-GAAP operating margin was 18.4% Q2 2025 Financial Highlights 34
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Strong Financial Performance (TTM) 35 $236.2 $290.1 $367.6 Q2 2023 Q2 2024 Q2 2025 Total ARR ($mm) Total Revenue ($mm) Non-GAAP Operating Income ($mm) $250.8 $299.9 $373.1 Q2 2023 Q2 2024 Q2 2025 $6.3 $35.0 $64.4 Q2 2023 Q2 2024 Q2 2025 Revenue and non-GAAP operating income shown on a trailing twelve-month basis. AvePoint defines non-GAAP operating income (loss) as GAAP operating income (loss) plus stock-based compensation and the amortization of acquired intangible assets.
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. 12% 13% 11% 10% 8%6% 4% 6% 7% 3% 4% 4% 13% Professional & Admin Services Finance & Insurance Federal Gov Manufacturing & Production State & Local Construction Healthcare Retail Info Tech Life Sciences & Pharma Energy & Utilities Education Other Geography Direct vs Channel New vs Existing Product Suites Customer Segment • North America 44% | • EMEA 35% | • APAC 21% • Channel 55% | • Direct 45% • Existing 68% | • New 32% • Control 28% | • Modernization 11% | • Resilience 62% • Enterprise 53% | • Mid-Market 28% | • SMB 19% 68% 32% 55%45% 28% 11% 62% 44% 35% 21% 53%28% 19% Diversified ARR Base Industries 36 All charts reflect breakdown of total ARR as of December 31, 2024.
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Recurring Revenue Mix Continues to Grow (TTM) Q2 2023 Q2 2024 Q2 2025 SaaS Term License & Support Services Maintenance $251mm $300mm SaaS Revenue as % of Total Revenue 55% 64% 73% $373mm 83% 85% 87% Recurring Revenue(1) as % of Total Revenue 37 (1) Recurring revenue includes SaaS, term license and support, and maintenance revenues.
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Attractive Retention Rates with Room to Grow Dollar-Based Gross Retention Rate Dollar-Based Net Retention Rate Retention rates are adjusted for FX. 87% 87% 89% Q2 2023 Q2 2024 Q2 2025 107% 110% 112% Q2 2023 Q2 2024 Q2 2025 38
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Increasing Operating Leverage (TTM) Revenues ($mm) & Gross Margin $250.8 $299.9 $373.1 72.2% 74.8% 75.5% Q2 2023 Q2 2024 Q2 2025 Operating Expenses 39.7% 36.2% 32.9% 12.4% 11.7% 11.4% 17.6% 15.3% 14.0% Q2 2023 Q2 2024 Q2 2025 S&M R&D G&A Non-GAAP Operating Margin 2.5% 11.7% 17.3% Q2 2023 Q2 2024 Q2 2025 39
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. $12.7 $47.2 $81.1 Q2 2023 Q2 2024 Q2 2025 Strong Free Cash Flow Generation (TTM) 5.1% 15.7% 21.7% Free Cash Flow Margin ($mm) 40
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Capital Allocation Priorities Strategic Investments and Acquisitions Invest in companies and technologies complementary to our business, and consistent with our strategy Share Repurchases Take a measured approach while prioritizing investments in the business Invest in Profitable Growth Accelerate customer adoption, scale channel ecosystem, broaden market presence, and invest in R&D 41
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Track Record of Successful M&A Acquisition of UK-based SaaS software provider Torsion, which specializes in data access governance for Microsoft 365 Acquisition of South Korea-based software solutions provider Essential, to expand market reach in South Korea Acquisition of Singapore-based I-Access Solutions, an IT solutions provider for training institutes and academic schools Acquisition of UK-based Combined Knowledge, which specializes in the development and delivery of Collaboration Education and Support Acquisition of Canada-based tyGraph, a platform allowing organizations to organize, measure, and analyze human interactions to accelerate success in the digital workplace Acquisition of I-Access Solutions Acquisition of Combined Knowledge Acquisition of Essential Acquisition of tyGraph Acquisition of Torsion Acquisition of Netherlands-based Ydentic, which specializes in centralized multi-tenant management for Microsoft MSPs, which will drive the continued evolution of Elements, our MSP platform Acquisition of Ydentic FEBRUARY 2022 JUNE 2022 OCTOBER 2022 SEPTEMBER 2022 JULY 2024 JANUARY 2025 • Acquired to offer customers better insights into employee engagement • Invested to further enhance analytics tied to M365, including Copilot • ARR has more than doubled since acquisition • Expect it will continue to perform well, especially as we see Copilot rolled out more widely Acquisition of 42
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Q3 & Full-Year 2025 Financial Guidance FY 2025 (Current) FY 2025 (Prior) ($ in mm) Low High Low High Annual Recurring Revenue $412.8 $418.8 $411.8 $417.8 y/y growth (reported) 26% 28% 26% 28% y/y growth (adj. for FX) 24% 26% 24% 26% Total Revenue $406.6 $410.6 $397.4 $405.4 y/y growth (reported) 23% 24% 20% 23% y/y growth (constant currency) 21% 22% 18% 20% Non-GAAP Operating Income $68.3 $70.8 $61.4 $64.4 Margin (reported) 16.8% 17.2% 15.5% 15.9% Q3 2025 ($ in mm) Low High Total Revenue $104.6 $106.6 y/y growth (reported) 18% 20% y/y growth (constant currency) 16% 18% Non-GAAP Operating Income $18.0 $19.0 Non-GAAP Operating Margin (reported) 17.2% 17.8% 43 Change versus prior guidance is at the midpoint.
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Q2 Performance Comparison to Guidance Q2 2025 Revenues Q2 2025 Operating Income 44 $96.3 -$0.04 $5.8 $102.0 Q2 guidance (midpoint) Currency impact Q2 performance Q2 actual -$0.2 $5.3 $13.7 $18.8 Q2 guidance (midpoint) Currency impact Q2 performance Q2 actual ($ in mm) ($ in mm)
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. -$0.6 $5.8 $2.0 $401.4 $408.6 Prior guidance (midpoint) Currency impact Q2 performance Guidance change Updated guidance (midpoint) Comparison to Previously Issued Full Year Guidance FY 2025 Revenues (estimate) FY 2025 Operating Income (estimate) FY 2025 ARR (estimate) 45 -$2.0 $3.0 $414.8 $415.8 Prior guidance (midpoint) Currency impact Guidance change Updated guidance (midpoint) -$0.6 $5.3 $1.5 $62.9 $69.1 Prior guidance (midpoint) Currency impact Q2 performance Guidance change Updated guidance (midpoint) ($ in mm) ($ in mm) ($ in mm)
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. 2021 2022 2023 2024 Long-Term Target Gross Margin 74% 73% 73% 76% 80% S&M as % of Revenue 44% 43% 38% 34% 30% R&D as % of Revenue 8% 12% 12% 12% 12.5% G&A as % of Revenue 18% 20% 15% 15% 10% Operating Margin 3.1% (1.2%) 8.1% 14.4% 27.5% Stock-Based Compensation 31% 16% 13% 12% <10% Long-Term Non-GAAP Targets $1B ARR 2029 46
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Tremendous Growth Potential Multiple growth levers to capture new markets and build share in a large and growing TAM Diverse Customer Base Rapidly growing and underpenetrated customer base that spans industries, geographies and company sizes Strong Financial Performance Established track record of execution, highlighted by durable topline growth, improving profitability and strong cash flow generation 1 32 A Compelling Equity Story 47
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APPENDIX
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. The AvePoint Elements Platform Cloud Migration Tenant Baseline Enforcement Cyber Protection Identity Management Workspace Governance Change Management Company A Company I Company B Company H Company G Company F Data Protection Data GovernanceData Security 49
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Key Balance Sheet Items and Free Cash Flow 20242022 2023 ($ in mm) As of December 31 Cash and cash equivalents 227.2 223.2 290.7 Accounts receivable 66.5 85.9 87.4 Prepaid expenses and other current assets 10.0 12.8 16.5 Property and equipment 5.5 5.1 5.3 Goodwill 18.9 19.2 17.7 Intangible assets 11.1 10.5 8.9 Other assets 76.3 85.9 92.6 Total assets 415.5 442.6 519.1 Accounts payable 1.5 1.4 2.4 Accrued expenses and other current liabilities 47.8 53.8 76.1 Current portion of deferred revenue 93.4 121.5 144.5 Long-term portion of deferred revenue 8.1 7.7 8.8 Other liabilities 21.6 33.3 16.3 Total liabilities 172.4 217.7 248.1 Mezzanine equity 14.0 6.0 0.0 Stockholders' equity 229.1 218.8 270.9 Total liabilities, mezzanine equity, and stockholders' equity 415.5 442.6 519.1 For the Twelve Months Ended December 31 Net cash provided by (used in) operating activities (0.8) 34.7 88.9 Purchase of property and equipment (3.9) (2.1) (3.0) Free cash flow (4.6) 32.6 85.9 50
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. Historical Customer Metrics F I N A N C I A L S CUSTOMER COUNT 2022 2023 2024 Total Customers 17,085 21,214 25,178 RETENTION RATES 2022 2023 2024 Gross Retention Rate 86% 86% 88% Gross Retention Rate (FX Adjusted) 87% 87% 89% Net Retention Rate 103% 108% 110% Net Retention Rate (FX Adjusted) 107% 109% 111% LARGE CUSTOMER COUNT 2022 2023 2024 Customers > $100K ARR 455 547 666 Customers > $250K ARR 137 178 225 Customers > $500K ARR 40 53 81 Customers > $1M ARR 12 18 26 51
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. 2022 2023 2024 Direct vs. Channel Direct 53% 49% 45% Channel 47% 51% 55% Customer Segment Enterprise 51% 52% 53% Mid-Market 30% 29% 28% Small Business 19% 18% 19% New vs. Existing(1) New Customers 58% 50% 32% Existing Customers 42% 50% 68% Geography North America 45% 45% 44% EMEA 35% 35% 35% APAC 20% 20% 21% Product Suite(2) Control 27% 27% 28% Modernization 15% 12% 11% Resilience 58% 61% 62% ARR Composition F I N A N C I A L S 52
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. GAAP to Non-GAAP Reconciliation 20242023 ($ in mm) For the Twelve Months Ended December 31 GAAP gross profit $166.1 $194.4 $248.0 GAAP gross margin 71.5% 71.5% 75.0% Stock-based compensation expense & amortization of acquired intangible assets $3.3 $4.1 $2.3 Non-GAAP gross profit $169.3 $198.5 $250.2 Non-GAAP gross margin 72.9% 73.0% 75.7% GAAP operating expenses $207.1 $209.7 $240.8 Stock-based compensation expense & amortization of acquired intangible assets $34.9 $33.4 $38.2 Non-GAAP operating expenses $172.2 $176.3 $202.6 Non-GAAP operating expense as % of revenue 74.1% 64.9% 61.3% GAAP operating income (loss) ($41.1) ($15.4) $7.2 Stock-based compensation expense & amortization of acquired intangible assets $38.2 $37.5 $40.5 Non-GAAP operating income (loss) ($2.9) $22.2 $47.6 Non-GAAP operating margin (1.2%) 8.1% 14.4% 2022 2025 For the Three Months Ended June 30 $75.5 74.0% $0.8 $76.3 74.8% $68.4 $10.9 $57.6 56.4% $7.1 $11.7 $18.8 18.4% 53
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©AvePoint, Inc. All rights reserved. Proprietary information of AvePoint, Inc. The Rule of 40 and Other Valuation Metrics Rule of 40 ARR Growth + Non-GAAP Op. margin Rule of 40 Revenue Growth + FCF margin Rule of X (Revenue Growth x 2) + FCF margin 28% 23% 24% (1%) 8% 14%27% 31% 38% 2022 2023 2024 21% 17% 22% (2%) 12% 26% 19% 29% 48% 2022 2023 2024 42% 34% 43% (2%) 12% 26% 40% 46% 69% 2022 2023 2024 54